President of Uzbekistan Islam Karimov paid a state visit to South Korea on 10-12 February.

On the last day of his visit, Islam Karimov received the chairman of the Korean Air company Cho Yang-Ho.

Korean Air is taking an active part in the creation of the free industrial and economic zone Navoi and development of the intercontinental logistics center.

In 2009, the South Korean carrier provided two cargo planes to Uzbekistan Airways national air company on a leasing basis, which are now used by the logistics center.

At present, 19 projects with a total cost of USD 187 million are being implemented in Navoi free industrial zone. In the second half of 2010, 16 projects will be completed, with launch of enterprises in chemical, oil, electronics, machinery building, pharmaceutics and other spheres.

So far, a learning center, a car technical service station, firefighting depot and fuel warehouse have been built, and a railway line laid. A cargo terminal is being constructed. In future, up to 30,000 tons of cargo will be processed here annually.

Air communication has been established from Navoi to Milan, Brussels, Bangkok, Delhi and Mumbai. Routes to Frankfurt, Dubai, Istanbul and Tel-Aviv will also open soon.

The Korean companies are also participating in the creation of the social infrastructure in Navoi region. Together with Korean Air, a housing complex for 9,000 people is being built. It will include healthcare, educational and cultural establishments as well.

At the talks in Seoul, Islam Karimov and Cho Yang-Ho discussed issues of cooperation between the air companies of the two states and further development of Navoi industrial zone.

The President of Uzbekistan also received the minister of strategy and finance of South Korea Yoon Jeung-Hyun. The sides considered further expansion of banking and financial cooperation between the two states.

The South Korean banking and financial establishments took an active part in the formation of the consortium for the construction of the Ustyurt gas and chemical complex in Uzbekistan.

As reported earlier, during the visit, the two states signed an investment agreement on the construction of the Ustyurt complex at Surgil deposit and development of this deposit. The total cost of the project is over USD 3 billion.

At the summit of the heads of two states that took place on 11 February, South Korean President Lee Myung-Bak stressed: “South Korea and Uzbekistan are close in many ways. The Koreans treat Uzbek people and Uzbekistan with a great respect. The people of South Korea showed a huge interest to the exhibition of national culture of Uzbekistan, which was organized at the Korean National Museum.”

The President of South Korea also noted: “At the time when most countries suffered from the global crisis, Uzbekistan showed economic growth. This, of course, was reached through a wise policy of the head of the country. In terms of anti-crisis measures, Uzbekistan, I believe, may be an example to many countries.”

The agreements reached in Seoul prove that the state visit of the President of Uzbekistan was fruitful in all respects.